Business, 24.11.2021 04:30 crobinson7206

Sahara Desert Homes (SDH) reports under IFRS and constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co. Relevant data are summarized below: Contract amount $ 3,000,000 Cost: 2020 1,200,000 2021 600,000
Gross profit: 2020 800,000 2021 400,000
Contract billings: 2020 1,500,000 2021 1,500,000
SDH uses the cost recovery method under IFRS to recognize revenue.
In its December 31, 2020, balance sheet, SDH would report:.
a. The asset, cost and profits in excess of billings, of $500,000.
b. The liability, billings in excess of cost, of $300,000.
c. The asset, contract amount in excess of billings, of $1,500,000.
d. The asset, deferred profit, of $400,000.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 07:30

What is the relationship between the national response framework and the national incident management system (nims)? a. the national response framework replaces the nims, which is now obsolete. b. the response protocols and structures described in the national response framework align with the nims, and all nims components support response. c. the nims relates to local, state, and territorial operations, whereas the nrf relates strictly to federal operations. d. the nims and the national response framework cover different aspects of incident managementâ€”the nims is focused on tactical planning, and the national response framework is focused on coordination.

Answers: 3

Answer

Business, 22.06.2019 08:00

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Answers: 3

Answer

Business, 22.06.2019 12:40

Kumar consulting operates several stock investment portfolios that are used by firms for investment of pension plan assets. last year, one portfolio had a realized return of 12.6 percent and a beta coefficient of 1.15. the average t-bond rate was 7 percent and the realized rate of return on the s& p 500 was 12 percent. what was the portfolio's alpha?

Answers: 1

Answer

Business, 22.06.2019 16:00

In macroeconomics, to study the aggregate means to study blank

Answers: 1

Answer

You know the right answer?

Sahara Desert Homes (SDH) reports under IFRS and constructed a new subdivision during 2020 and 2021...

Questions

Business, 26.02.2020 02:17

In January 2012, one US dollar was worth 50.0 Indian rupees. Suppose that over the next year the value of the Indian rupee decreases to 63.0 Indian ru...